How to Learn Economics Quickly
- 1). Focus on fundamental economic concepts. Consider how they apply to a variety of situations, including your own life. For example, the principle of supply and demand can help you understand almost any economic situation, from price variation (supply and demand for goods and services) to unemployment (supply and demand for labor) to the relationship between interest rates and inflation (supply and demand for money).
- 2). Read books that explain the basics of economics in engaging, easy-to-understand language. Books such as "Economics in One Lesson" by Henry Hazlitt, "The Undercover Economist" by Tim Harford and "The Economics of Money, Banking and Financial Markets" by Frederic S. Mishkin fit into this category. Read other books that take an original and humorous look at economics. "Freakonomics: A Rogue Economist Explores the Hidden Side of Everything" by Stephen J. Dubner and Steven D. Levitt and "Naked Economics: Undressing the Dismal Science" by Charles Wheelan are good examples of such reads.
- 3). Take advantage of online sources that provide information about economics. For example, some universities offer free online courses in economics. Several options are provided in the Resources section of this article.
- 4). Read publications that focus on economic and financial topics, such as "Economist" or "Wall Street Journal," as well as newspaper reports and editorials on economic policies and practices. Try to correlate the concepts you have learned with the ideas expressed here.
- 5). Speak to a person who is familiar with the practical application of economic theories. Find someone in your circle of family and friends who deals with banking, purchasing, stock trading or other financial transactions on a daily basis and discuss what you have understood about a particular aspect of economics. Find such experts on online forums and social networking sites and initiate a dialogue to learn more about the topic.
